Grayscale's Zach Pandl's analysis that stablecoin issuers such as Circle and Tether stand to benefit from the recent Fed rate hike through elevated yields on their cash reserves.Higher interest rates allow these firms to earn greater revenues from treasuries and cash equivalents backing USDC and USDT, creating a counterintuitive advantage amid monetary tightening.Official logos of Circle and Tether, illustrates how monetary policy impacts differ across crypto segments, with stablecoin operators potentially seeing revenue gains as rates rise.
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